The Charity CFO

APRIL 2, 2025

When it comes to Federal Single Audits , nonprofits often make costly mistakes that lead to compliance issues, financial weaknesses, and material deficiencies. Below, we break down the top audit findings and what nonprofits need to know to stay compliant. Make sure your documentation is complete.

Auditing 82

Auditing Nonprofit Compliance CFO 82

The Charity CFO

MAY 13, 2025

Top 5 Signs Your Accounting Is a Mess (And How to Fix It) When your nonprofits finances feel offbut you cant quite put your finger on whyits often because the accounting system is quietly unraveling behind the scenes. Its about sustainability, compliance, and having the confidence to lead your mission with clarity.

Accounting 82

Accounting Nonprofit Reconciliations CFO 82

The Charity CFO

JANUARY 15, 2025

Nonprofit success depends on many things. In the latest episode of A Modern Nonprofit Podcast, host Tosha Anderson sat down with Paul Morris, Executive Fundraising Coach at Auxilia , to discuss the critical partnership between finance and development in nonprofits. Learn more about compliance requirements for nonprofits here.

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Nonprofit Finance Budgeting Leadership 52

The Charity CFO

DECEMBER 23, 2024

As a nonprofit leader, you’re constantly looking for ways to streamline operations and maximize resources. No matter which direction you end up going, its crucial to understand the importance of payroll compliance. No matter which direction you end up going, its crucial to understand the importance of payroll compliance.

Nonprofit 52

Nonprofit Compliance CFO Risk Management 52

The Charity CFO

OCTOBER 28, 2024

In a recent episode of A Modern Nonprofit Podcast, host Tosha Anderson sat down with Dr. Tiffany Slater, an nonproift HR expert and founder of HRTailorMade. The conversation centered around common HR risks faced by nonprofit organizations and best practices for avoiding potential pitfalls. Want to jump right in?

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Nonprofit Budgeting Compliance Prioritization 59

The Charity CFO

MARCH 6, 2025

The Importance of Setting Goals and Tracking Them in Nonprofit Management As nonprofit leaders, one of our biggest responsibilities is to set clear expectations, measure progress, and hold teams accountable. Why Nonprofits Need Data KPIs allow nonprofit leaders to: Set measurable goals for fundraising, programs, and operations.

Nonprofit 52

Nonprofit Accounting CFO Compliance 52

The Charity CFO

MAY 6, 2022

According to The Nonprofit Times, almost 80% of all nonprofit revenue comes from the US government in the form of federal grant funding or fees for services. Your financial system must be in good working order before you even consider applying for federal funding. Don't hire the wrong accountant for your nonprofit!

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Nonprofit Auditing Financial Systems CFO 111

The Charity CFO

MAY 18, 2022

Financial oversight is one of the primary roles of your nonprofit board of directors. . Every nonprofit is required to have a board of directors. And they create a lot of confusion for people new to the nonprofit sector. What is Financial Oversight? Financial oversight refers to a broad range of responsibilities.

Nonprofit 98

Nonprofit Auditing Compliance Budgeting 98

The Charity CFO

MARCH 31, 2023

They are actually useful tools to ensure that an organization is in compliance and can also be used to identify potential problems before they become too big. The IRS does not require nonprofit audits in most cases, however, they may periodically request an audit (examination) or a compliance check.

Nonprofit 90

Nonprofit Auditing Compliance CFO 90

The Charity CFO

APRIL 29, 2022

Many nonprofit organizations both large and small need to undergo a financial statement audit every year. Preparing for a nonprofit audit can be overwhelming and anxiety-filled, especially if it’s your first audit or you don’t have a strong and experienced financial team. What is a financial statement audit?

Nonprofit 98

Nonprofit Auditing General Ledger Reconciliations 98

The Charity CFO

FEBRUARY 4, 2022

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. A bookkeeper records and organizes financial data; an accountant interprets and presents that data. .

Nonprofit 84

Nonprofit Invoicing General Ledger Accounting 84

The Charity CFO

DECEMBER 18, 2024

Federal funding can be an attractive option for nonprofits looking to expand their programs and reach. In this episode of A Modern Nonprofit Podcast, host Tosha Anderson and guest Rachel Schmidt discuss the top five considerations nonprofits should keep in mind when considering federal dollars. Are you ready to expand?

Nonprofit 52

Nonprofit Auditing Compliance Budgeting 52

The Charity CFO

APRIL 5, 2023

In order to confidently run your organization, it’s important to have a strong understanding of nonprofit compliance requirements. Running a nonprofit is no small feat. However, compliance is not always very straightforward and it can be a huge task to undertake on your own. What Does Nonprofit Compliance Mean?

Nonprofit 52

Nonprofit Compliance Auditing Accounting 52

The Charity CFO

APRIL 20, 2023

How can nonprofit accounting software help your organization with efficiency? For-profit companies have long used accounting software to track their financial transactions and monitor their bottom lines. Where to start with nonprofit accounting software Nonprofits have to comply with strict financial accounting standards.

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Nonprofit Accounting Accounting Standards Budgeting 81

The Charity CFO

MAY 31, 2022

It’s a myth that all stakeholders need to be experts in every aspect of nonprofit finances. Even on nonprofit financial committees, some members may be skilled in accounting, others in banking, and others in investing or financial analysis. Because the basics of nonprofit finances are easy to grasp. .

Nonprofit 83

Nonprofit Finance Auditing Accounts Payable 83

The Charity CFO

APRIL 19, 2022

As a CPA working exclusively with nonprofits and a former nonprofit auditor, I’ve looked at thousands of nonprofit financial statements over the past 10 years. Over the years, I’ve identified a set of 5 nonprofit financial red flags that are fairly common and almost always lead to trouble sooner or later.

Nonprofit 87

Nonprofit Compliance Auditing Accounting 87

The Charity CFO

JANUARY 17, 2022

If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team. with this overview of nonprofit accounting basics. . And guess what?

Nonprofit 89

Nonprofit Accounting Profit and Loss Accounts Payable 89

The Charity CFO

DECEMBER 30, 2021

Contrary to what many people envision, a nonprofit audit doesn’t usually start with a letter from the IRS. Instead, an independent nonprofit audit is something you choose to build trust in your nonprofit organization. An audit can be a critical step for a growing nonprofit that needs to raise increasing amounts of funds.

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Nonprofit Auditing GAAP Accounting Principles 84

The Charity CFO

SEPTEMBER 14, 2022

If you know only one thing about 501(c)(3) nonprofit organizations , you probably know that they don’t pay federal taxes on their income. . So how do you know if your nonprofit organization has taxable unrelated business income? Not Sure If Your Nonprofit Income Is Taxable Or Not? But what if I told you that’s not always true?

Nonprofit 89

Nonprofit Profit and Loss Education CFO 89

The Charity CFO

OCTOBER 4, 2022

million nonprofits globally. To ensure that a nonprofit runs efficiently, several people work behind the scenes to make things much easier, and one of those people is the operations manager. The operations manager might be the secret weapon of the most successful nonprofits we know. There are more than 1.54

Nonprofit 82

Nonprofit Budgeting Compliance CFO 82

VCFO

JUNE 29, 2023

Restoring and Ensuring Effective Nonprofit Finance Practices Decades ago, healthcare trailblazer Sister Irene Kraus moved her mantra of “No Margin. And when shortcomings and lapses in those crucial cornerstones persist in a nonprofit, so too do risks to the organization and those they serve. No Mission.” into the limelight.

Nonprofit 67

Nonprofit Finance CFO Compliance 67

The Charity CFO

MAY 22, 2024

What do many successful nonprofits have in common? Good financial management. In nonprofits, managing your finances effectively is essential to running a sustainable organization. Not only does good financial management help keep your organization running, but it also helps bolster trust in your nonprofit.

Nonprofit 52

Nonprofit CFO Compliance Budgeting 52

The Charity CFO

OCTOBER 16, 2023

It may not seem like a significant aspect of your organization’s financial situation, but picking the right nonprofit banking partner is one of the most vital decisions leaders can make. Use your network throughout the nonprofit community to get some firsthand thoughts on various banks.

Nonprofit 59

Nonprofit Banking Compliance CFO 59

The Charity CFO

JANUARY 19, 2023

Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Nonprofit organizations distinguish themselves from for-profit entities through their purpose and mission.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

The Charity CFO

JULY 3, 2024

The middle of the year is the perfect time to pause and reflect on your nonprofit organization’s financial health. A midyear financial review helps you identify problems early and align your nonprofit’s financial performance with planned goals. Step 3: Check compliance with financial policies and regulations.

Nonprofit 52

Nonprofit Budgeting Compliance CFO 52

The Charity CFO

APRIL 28, 2023

Is there an advantage to working with accounting firms specializing in nonprofits? Nonprofit organizations play a crucial role in addressing social, environmental, and cultural issues in our society. Grant Accounting Many nonprofit organizations rely on grants to fund their programs and services.

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Nonprofit Accounting Firms Accounting Auditing 52

The Charity CFO

FEBRUARY 27, 2023

Does your organization get bogged down with nonprofit treasurer duties? Nonprofits don’t exist for the purpose of earning profits. With that being said, money is central to a nonprofit’s success. How does a nonprofit manage its money? One of the most important board members for a nonprofit is the treasurer.

Nonprofit 52

Nonprofit Compliance CFO Leadership 52

The Charity CFO

SEPTEMBER 11, 2023

Taxes are rarely anyone’s idea of fun, but meeting nonprofit tax deadlines is critical to keeping even the most successful and impactful charities running. Unfortunately, they can often sneak up on busy nonprofit leaders, leading to a last-minute scramble to file – or worse. Read on as we break down the basics.

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Nonprofit Compliance CFO Financial Reporting 59

The Charity CFO

APRIL 13, 2023

Nonprofit financial management is one of the primary concerns for organizations. Nonprofits are special types of organizations, in both their structure and their purpose. This meaning is the driving force behind what nonprofit organizations do day in and day out. Compliance requirements vary by state and funding sources.

Nonprofit 52

Nonprofit Accounting Standards Compliance Budgeting 52

The Charity CFO

MARCH 28, 2024

Your nonprofit accounting system might not be the most exciting part of your organization, but it’s one of the most important aspects. An effective accounting system helps you stay in compliance with tax and legal regulations–helping you maintain your exempt status. It’s also an important tool for transparency within your nonprofit.

Nonprofit 52

Nonprofit Accounting Budgeting Compliance 52

The Charity CFO

MAY 19, 2023

Cash management for a nonprofit organization is possibly the most important consideration for success. In a previous article, we discussed the benefits, risks, and compliance requirements of outsourcing bookkeeping for nonprofit organizations. This supports informed decisions about spending, budgeting, and resource allocation.

Cash Management 52

Cash Management Nonprofit Compliance Budgeting 52

The Charity CFO

APRIL 18, 2024

It’s no secret that running a nonprofit isn’t always easy, especially if you don’t know what challenges await you in the coming months. Luckily, we’ve put together a list of the five most common challenges for nonprofits in 2024. These challenges include financial issues, data security compliance, and talent retention problems.

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Nonprofit Compliance CFO Leverage 52

The Charity CFO

AUGUST 23, 2024

Download the Article For nonprofits, audits are more than just a regulatory requirement–they’re a tool for safeguarding the organization’s mission and financial health. An audit helps improve an organization’s financial transparency, builds donor trust, and ensures compliance with regulations. Download it for later.

Nonprofit 52

Nonprofit Auditing Compliance CFO 52

The Charity CFO

DECEMBER 15, 2023

While the nature of a nonprofit means you’re focusing more on your mission than making money, bringing in revenue is still essential. Accurate revenue recognition, classification, and records are some of the most important aspects of nonprofit accounting. That depends on your organization’s size and complexity.

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Nonprofit Compliance Valuation CFO 52

The Charity CFO

AUGUST 27, 2024

An organization’s Key Performance Indicators (KPIs) provide a clear measure of how well the nonprofit is maintaining financial health while working toward its mission. Many nonprofits must balance their goals with limited resources or strict compliance regulations. Closer to 90 is ideal. Why should you use this KPI?

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Nonprofit Budgeting CFO Financial Analysis 52

The Charity CFO

SEPTEMBER 17, 2024

Nonprofit organizations rely on their leadership team to help shape and implement the mission, making succession planning a key part of long-term success. While CEO succession typically grabs the spotlight, you also need to consider other teams that contribute to the everyday operation of your nonprofit. Why is there a shortage?

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Nonprofit Planning CFO Leadership 52

The Charity CFO

MAY 30, 2023

Managing payroll for nonprofit organizations comes with unique requirements and considerations. Ensuring that your nonprofit payroll services are up to the task of withholding payroll taxes, complying with grant regulations, and ensuring compliance and transparency can be a huge lift.

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Nonprofit Compliance Benchmarking CFO 52